Gadget Insurance Market Report 2026

The gadget insurance market size has grown rapidly in recent years. It will grow from $74.13 billion in 2025 to $83.27 billion in 2026 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to increasing smartphone and laptop penetration, rising incidence of device damage and theft, expansion of e-commerce electronics sales, availability of bundled insurance offerings, growth of urban consumer electronics usage.

The gadget insurance market size is expected to see rapid growth in the next few years. It will grow to $131.08 billion in 2030 at a compound annual growth rate (CAGR) of 12%. The growth in the forecast period can be attributed to increasing adoption of connected devices, rising consumer preference for instant claims settlement, expansion of embedded insurance models, growing use of ai-driven claims automation, increasing focus on data security and device protection. Major trends in the forecast period include increasing demand for device-specific insurance plans, rising adoption of online gadget insurance platforms, growing focus on theft and damage protection, expansion of subscription-based insurance models, enhanced integration of digital claims processing.

The growing demand for electronic devices is expected to drive expansion in the gadget insurance market. This demand is fueled by ongoing technological advancements, including faster processors, enhanced connectivity, and innovative features. Consumer preferences for smart, portable devices, along with rising digital content consumption for streaming, gaming, and multimedia, further accelerate the adoption of advanced electronics. Gadget insurance mitigates financial risks associated with device loss or damage, encouraging consumers to purchase high-value electronics with confidence. For example, in October 2023, the Shanghai Municipal People's Government reported that China’s retail sales of consumer electronics were projected to rise by 4% to 2.2 trillion yuan (US$305 billion), with growth expected to reach 5% in 2024. Therefore, the increasing demand for electronic devices is supporting growth in the gadget insurance market.

Key players in the gadget insurance sector are increasingly leveraging strategic partnerships to broaden their reach and improve service offerings. Such collaborations combine resources and expertise to deliver tailored insurance solutions. For instance, in July 2024, Gamp, a Nigerian technology provider of device insurance, partnered with AXA Mansard to offer flexible gadget insurance solutions through SLOT’s retail network. These plans include low excess fees and pay-as-you-go options, making coverage accessible and customizable, with initial offerings at a minimal fee of N2500.

In March 2024, Open Insurance Technologies Pty Ltd., an Australian insurer, acquired SO-SURE, a UK-based insurtech company specializing in mobile and accessories insurance. This acquisition strengthens Open Insurance’s presence in the UK, expands its mobile insurance offerings, and enhances embedded insurance capabilities to improve customer experience and drive market growth.

Major companies operating in the gadget insurance market are Apple Inc., Samsung Electronics Co Ltd, Allianz SE, AT&T Inc., AXA Group, Chubb Limited, Assurant Inc., Asurion LLC, Geek Squad, SquareTrade Inc., Endsleigh, Bolttech Mannings Inc., OneAssist Consumer Solutions Pvt Ltd, Worth Ave Group, Acumen Insurance Services Ltd, i‑Digital Insurance, Likewize, Bajaj Allianz General Insurance, HDFC ERGO, AIG (American International Group), Hiscox, ProtectCELL, CNA Financial, Aviva plc, Zurich Insurance Group, CPP Group plc.

North America was the largest region in the gadget insurance market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gadget insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the gadget insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The gadget insurance market includes revenues earned by entities by providing services such as accidental damage coverage, theft coverage, cracked screen repair, accessory coverage, and fast replacement or repair. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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